The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-06-15
have some opportunities of knowing say that

have some opportunities of knowing say that
the Clique was not caught so deeply in July
wheat, and that June had been practically
settled. A prominent broker being asked
his opinion of the truth of the charges made
ny Rosentelt & Co., that Cincinnati members
OF the clique had failed to furnish money,
said 1t was more likely that the market
wa. was broken in Chicago by lying about the
Cincinnati banks. ''Why." said he, ''there
were fifty or more kilograms received
on change to-day, saying: Wheat weak,
owing to report of run on the Fidelity
bank, or Wheat weak on account of ru-
mors OF weakness of the Cincinnati banks ~
AN ANONYMOUS ATTACK ON A BANK,
These dispatches were so abundant as to
indicate that there must have been some
concert of action. This theory is strength
ened by the receipt by the Fidelity Bank
from a number of their correspondents of
an anonymous printed circular intended to
inJure the hanks standing. They were
mailed from this city June 10, II and II, and
seem to have been the origin of the rumors
circulated to-day. The officers of the bank
are making a rigid search for the author of
thus circular. Instead of anything in the
Likeness of a run, the bank was busy receiv-
ing deposits. This episode of the Chicago
wheat. panic has caused much feeling here,
and the Commercial Gazette will say to-
morrow:
AN EDITORIAL CUDGEL.
Yesterday, after the decline, the city
was full of rumOrS. Among these were dis
patches that the Fidelity bank was affected.
We visited that bank and we are authorized
to say that the Fidelity bank is in no way,
directly or Indirectly, concerned in the so
called deal, and cannot be affected by the
result. There is not in the Fidelity bank a
dollar of security in the shape of Chicago
t1rh1
and no loans of any kind in con-
nection with the Chicago transaction,
that are not good. Mr. Briggs Swift, the
PRESIDENT Is well known here and his state
ment will be received here without question
ing. The business of the bank was con-
Quoted yesterday as usual There was no
run upon it from the city or outside. 1t
would be unfortunate if OR financial con-
Germs should be affected by speculative syndi-
Gates, and it is gratifying to know that
whatever the result of the Chicago wheat
deal may be, that the Cincinnati banks are
free from the entanglement.
THE MILWAUKEE SUFFERERS.
MILWAUKEE, WIS June 1.-THE sudden
drop in wheat at all the great grain centres
created great excitement on Change.
Three failures are reported, viz: Frank
Wilson, James Wilde and Hill, Fleiksheim &
Co., the latter being the Milwaukee branch
OF C. j. KeIshaw & Co., of Chicago.
MILWAUKEE EXCITED.
Such scenes of wild excitement as were
witnessed ON change to-day have never
been known here When the break came
everybody frantically tried to sell wheat.and
nobody wanted to buy. In a short time
July wheat sold off from 80 7-Sc to n lac,
while September dropped from 79c to
Is 3-4c Shortly before noon Hill, Flertz-
hni G. N lp1 N
suspension They were buying for
Kershaw & Co., of Chicago, and were dis
appointed in not receiving the remittance
expected from Kershaw, and being also
pressed by the other houses TO whom they
were indebted, and yielded to the pressure.
Their suspension dragged down Hooker,
Crittendon g. Co. and Frank Wilson, each
of whom, it is understood, called for $50, 900
in margins, failing to get which they were
also compelled to give up. Hill, Flertzheim
& Co. claim that the money needed by them
will be Forthcoming tomorrow, in which
event Hooker, Crittendon & Co. and
| Frank Wilson will also resume John
Wilde, broker, announced his inability TO
meet his margins this afternoon. 1t is be-
| lieved that other houses will find themselves
| in deep water
BULLS AND BEARS BOTH sTNGED.
Much money has been lost here in small
amounts, that in the aggregate represent a
| large sum. The bear element is strongest on
| the local board, but that crowd is not feel
ing very jubilant, having been whipped in
the deal The bull crowd had exacted diff
! ferences all along the line of the advance
and now that the'time has come to make up
differences the other side is unable to meet
| them, so that the peculiar spectacle is pre-
sented here of both bulls and bears being
singed at the same time. Frank Wilson re-
| = 4 T.
shaw & Co. would pay their obligations
| tomorrow